Photo taken on Oct. 26, 2020 shows the Tesla China-made Model 3 vehicles at its gigafactory in Shanghai, east China. [Photo/Xinhua]

Tesla produced 509,737 and delivered 499,550 vehicles in 2020, the U.S. electric car maker said on Saturday.

The delivery number was above Wall Street's estimates but still came slightly short of its annual goal of delivering 500,000 vehicles.

It added that the production of the Model Y in Shanghai is underway, with deliveries "expected to begin shortly."

The company said its net income and other financial results will be released when it announces fourth quarter earnings.